COMMODITY NEWS UPDATE :- Nickel futures rise on surging demand

BUY NICKEL ABOVE 753 TARGET 757-762-770 WITH SL 741

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Nickel futures were trading higher during the afternoon trade in the domestic market on Friday tracking a weak trend in base metals at the London Metal Exchange (LME) amid muted demand at the domestic spot markets. Market analysts said the fall in nickel prices was mostly in tune with a weak trend in the base metals pack at the LME. Besides, muted demand from alloy-makers at the domestic spot markets weighed on metal prices in futures trade.

At the MCX, nickel futures for October 2017 contract is trading at Rs 746.90 per kg, up by 0.89 per cent, after opening at Rs 736.60, against a previous close of Rs 740.30. It touched the intra-day high of Rs 747.800.

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Oil rises on tighter U.S. market

Commodity-Tips

Oil prices rose on Friday as both U.S. crude production and inventories declined, pointing towards a tightening market.

Strong Chinese oil import data also supported crude prices, traders said.

U.S. West Texas Intermediate (WTI) crude was at $50.93 per barrel at 0554 GMT, up 33 cents, or 0.7%, from their last settlement. Brent was at $56.55, up 30 cents, or 0.5 %.U.S. crude inventories dropped 2.7 million barrels in the week to Oct. 6, to 462.22 million barrels, the Energy Information Administration (EIA) said late on Thursday.Crude production slipped 81,000 barrels per day (bpd) to 9.48 million bpd.

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शेयर बाजारों के शुरुआती कारोबार में तेजी

Bombay Stock Exchange. (File Photo: IANS)

देश के शेयर बाजार के शुरुआती कारोबार में शुक्रवार को तेजी का रुख है। प्रमुख सूचकांक सेंसेक्स सुबह 9.55 बजे 230.61 अंकों की मजबूती के साथ 32,412.83 पर और निफ्टी भी लगभग इसी समय 68.80 अंकों की बढ़त के साथ 10,165.20 पर कारोबार करते देखे गए।

बम्बई स्टॉक एक्सचेंज (बीएसई) का 30 शेयरों पर आधारित संवेदी सूचकांक सेंसेक्स सुबह 65.52 अंकों की बढ़त के साथ 32247.74 पर, जबकि नेशनल स्टॉक एक्सचेंज (एनएसई) का 50 शेयरों पर आधारित संवेदी सूचकांक निफ्टी 27.3 अंकों की मजबूती के साथ 10,123.70 पर खुला।

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